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Ann: Noosa Conference Presentation, page-34

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14/12/23

14:34

Post #: 71450685
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Originally posted by Bayhunter: ↑

I spoke to 3 directors at the Noosa Mining Conference. I found them arrogant, rude and disinterested in my questions, it may be because i introduced myself as a holder before the new board was appointed.

Clive Donner started his presentation with some facts he obviously is proud of:
the top 10 holders hold more than 50% of the company and
The board themselves hold 20% of the company.

Clive also pointed out he and Milan were in talks with the board last year and told them the restart study proposal was "unbankable"

The only way Clive and his Croneys could get over 50% of the registry is if they kicked out the existing board, take over and double the SOI and they weren't going to do that at 10 cents (note it was trading at 16 cents before the cap raise that didn't happen was announced) They screwed over existing shareholders in order to get more voting power and control and possible dividends and capital gains BY doing a huge Placement at 4 cents which they took part in.

Clive and his Croneys are not interested in the old shareholders they have put their own cash into now owning more than 50% of the company. Clive and Milan each put in $500,000 of their own money, to get the same percentage ownership of the company they would have had to put in $1,250,000 each, if placement was done at 10 cents. THAT is why the SP is where it is today. IMO

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Thanks BH. That's the most honest and factual assessment we have had in 2 years I reckon.

Will you continute to hold despite all that?

I still fear their ability to get finance in the next 12-18 months for what must be now the $300-400m required to bring it into operation.

CYM Price at posting: 2.8¢ Sentiment: None Disclosure: Not Held
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Ann: Noosa Conference Presentation, page-34

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Ann: Noosa Conference Presentation, page-34

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